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Bellevieu Manchester Apartments 342 Bloom St 48 Unit Apartment Building $2,200,000 ($45,833/Unit) 21.59% Cap Rate Baltimore, MD 21217
Investment Highlights
- 48-unit apartment building featuring one-bedroom layouts across five stories.
- Significant upside potential with 30 units currently vacant and ready for renovation.
- Convenient urban setting with proximity to public transportation, shopping, and key neighborhood services.
- Elevator access, community amenities, and secure entry systems throughout.
- Located in an Opportunity Zone, offering potential tax incentives for qualified investors.
- Solid brick construction with updates including a modernized model unit showcasing quartz finishes and new cabinetry.
Executive Summary
Only 45.5k per unit ! Listed below state assessment . 48 unit building with large upside potential. Renovated in 1994, ready for another modest facelift. Desireable location with good access shopping and conveniences. Five story building has handicap lift,elevator, community room, rental office, laudry room, two stairwell emergency exits that both allow access to all floors. Secure building with central chiller, central boiler heat. 18 units occupied and 30 vacant. one apartment was recently remodelled to be used as rental model . pics attached. All units are 1br , they vary slightlyin layout and have approximately 480 to 500 sq ft in area. Cookie cutted modest rehab can quickly bring top rents.
Property Facts
| Price | $2,200,000 | Building Class | C |
| Price Per Unit | $45,833 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 31,340 SF |
| Cap Rate | 21.59% | Average Occupancy | 90% |
| Sale Condition | High Vacancy Property | No. Stories | 5 |
| No. Units | 48 | Year Built | 1939 |
| Property Type | Multifamily | Parking Ratio | 0.48/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | R090 - R-090 is a Residential Multi-Family zoning district allowing rowhouses, apartments, and related residential uses with set bulk and yard standards. | ||
| Price | $2,200,000 |
| Price Per Unit | $45,833 |
| Sale Type | Investment |
| Cap Rate | 21.59% |
| Sale Condition | High Vacancy Property |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 31,340 SF |
| Average Occupancy | 90% |
| No. Stories | 5 |
| Year Built | 1939 |
| Parking Ratio | 0.48/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R090 - R-090 is a Residential Multi-Family zoning district allowing rowhouses, apartments, and related residential uses with set bulk and yard standards. |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- High Speed Internet Access
- Ice Maker
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Handrails
- Trash Compactor
- Vinyl Flooring
- Warming Drawer
- Wheelchair Accessible (Rooms)
- Window Coverings
- Large Bedrooms
Site Amenities
- 24 Hour Access
- Controlled Access
- Clubhouse
- Laundry Facilities
- Property Manager on Site
- Tenant Controlled HVAC
- Gated
- Renters Insurance Program
- Elevator
- Hearing Impaired Accessible
- Maintenance on site
- Multi Use Room
- Online Services
- Vision Impaired Accessible
- Public Transportation
- Individual Locking Bedrooms
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 48 | - | 525 |
1 1
Very walkable
80/100
Fairly drivable
50/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 0311-001 | Improvements Assessment | $2,036,300 |
| Land Assessment | $286,800 | Total Assessment | $2,323,100 |
Property Taxes
Parcel Number
0311-001
Land Assessment
$286,800
Improvements Assessment
$2,036,300
Total Assessment
$2,323,100
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Presented by
Transamerican Engineering Corp
Bellevieu Manchester Apartments | 342 Bloom St
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